PANews reported on April 1st that according to The Block, a team called 0xbow, involving Ethereum veteran developers Ameen Soleimani and Zak Cole and other cryptographers, recently launched a new tool to enhance on-chain privacy. According to an announcement on X platform, this technology named "Privacy Pools" was officially launched on the mainnet on Monday. Privacy Pools is a hybrid network system using zero-knowledge proofs and "Association Set Provider", ensuring only "clean" funds can enter the pool. Its goal is to provide privacy protection for ordinary cryptocurrency users while maintaining regulatory compliance.

Users can privately deposit and withdraw ERC-20 tokens using zero-knowledge proofs, while the Association Set Provider (ASP) ensures compliance by examining funds. The process includes: connecting to Ethereum or Layer 2 Gnosis networks via compatible wallets, creating a dedicated 0xbow wallet, depositing funds into the pool, and withdrawing to a new shielded address. Unlike traditional mixers like Tornado Cash, Privacy Pools can set association set providers to maintain lists of sanctioned or suspicious accounts. 0xbow or other entities can act as gatekeepers to prevent problematic funds from entering the mixing pool.

0xbow has received investments from institutions like Bankless, Number Group, and Public Works, with angel investors including Ethereum co-founder Vitalik Buterin. The 0xbow protocol originated from a paper co-authored by Buterin in 2023 with Chainalysis researcher Jacob Illum and scholars Matthias Nadler and Fabian Schar.